Aljoša Tušek, the CEO and Founder of Tushek Hypercars, once a very successful racing driver has always been intrigued by implementing the demands and knowledge of a professional racing driver into a sports car, so he decided to make his own supercar, drawing from his racing experience.

In 2008, he began to design the first supercar, the Renovatio TS 500 and with that model Tushek instantly earned a place in the global supercars market. The Renovatio TS 500 was also presented on the BBC’s famous TV show, Top Gear, where they were clearly impressed with the car, which was tested in the French Le Mans before the start of the famous 24-hour race.

In a way, Tušek says, it was the earliest proof of a successful model from a price-performance point of view, as it was very light and manageable, as well as balanced in price for a supercar, priced at around 250,000 euros in 2008.

The next model, the TS 600, secured Tushek’s position among handmade hyper cars on the global market. It was a big success – the UK magazine Auto Car named it one of the four best super sports cars of the year in 2014 and it still remains in the top 10 list of supercars.

Tushek’s goal has always been to have the best car on the market; they have only sold their prototypes so far, as they have never been satisfied enough with any model to go to the production line. The TS 900 plug-in hybrid is the first model where they plan to produce two dozen cars. They presented it at Top Marques in Monaco, and met with a lot of demand. It comes in a road friendly and a racing version. Its popularity is such that it’s one of the top played high performance cars in leading worldwide video games such as Asphalt9 and Grid Legends.

At Tushek, they started thinking about the electrification of driving early on, as they quickly saw the direction in which the automotive industry was heading. They began with the development of their electric drivetrain system in 2012, because, as Tušek says, they always try to work ten years in advance.

Their electric drive unit TUSHEK DIRECT ELECTRIC DRIVE (TDED) is the result of Slovenian technological know-how and was developed on the basis of engines used in advanced lightweight aviation. Starting from such high-power aviation engines, it took over 6 years of development to reach the 2018 patented drivetrain, currently one of the best automotive electric drive units on the global market.

As Tušek points out, with electric drives, the most important compromise is between the range and the weight of the batteries. This is precisely where the efficiency of the drives developed at Tushek prevails as one of the best in the world. In fact, their drivetrain is capable of operating with only 10 KW per 100 km during normal driving, with the batteries weighting only 65 kilograms in the TS900 Hybrid.

The development of their hypercars, as well as the drivetrain, depends on the development and use of new materials for the drivetrain and battery casings, which must be ultra-light and at the same time ultra-durable. Thus, they started collaborating with the Faculty of Polymer Technology from Slovenj Gradec, in the development of special materials for battery casings that are capable of withstanding extremely high stress.

Internal combustion engines are coming to an end, and they will probably last the longest in hyper cars and auto-motor sports. The engine sounds that people are used to now will be replaced by new ones. As Tušek jokes, now electric cars sound similar to “small UFOs”, but in the future, he adds, they will be a matter for each individual manufacturer to decide as part of the design of the car.

At Tushek they are focused on development and are investing heavily in testing new materials and developing electric drivetrains that will power their hyper cars entirely in the future. But, due to the expected delay in the transformation to electric cars in auto-motor sports, they are currently betting a lot on their hybrid TS900, which is, as they say, a technological revolution on four wheels, that shows the real use of new technologies. It creates new driving dimensions made possible by hyper-hybrid technology and a drive that has many patent-protected solutions.

However, since they do not see the future in hybrids, but in fully electric cars, according to Tušek, they are now focusing on the development and production of a fully electric hyper car, codenamed TS X000. He claims it will be a completely different hyper car, compared to the ones we are used to seeing on the roads now. It is still a mystery, how much horse power it will have, but Aljoša Tušek hinted, that it might have more than 2000.

So far, they have made a proof of concept for their all-electric car, and they want to test the new TS X000 for the first time on a racetrack towards the end of 2023. They plan to break into the global market in 2024, and then start with small-scale production of the car. Their goal is to create a model of the car that can be produced over a long period.

Tushek has become a development company as they invest 90 percent of their time in development, meaning that their R&D department is growing fast, but they have practically no production. They see their future in development, designing and assembling their own cars, and using certain parts from companies that are pioneers in their fields. Most of the cars are and will be the result of Slovenian know-how.

The development and patenting of their electric drivetrain has enabled them to establish partnerships in the automotive industry, that will financially support further growth and development. They also see the future in cooperation with the automotive industry, Tušek says, where they are currently a development partner to a global car manufacturer.

However, the next decade is going to be different. We will begin to see the first signs of the effects of an ageing population, the process of deglobalization, and geopolitical battles for dominance over financial and raw material flows. This will result in rising inflation and high levels of debt. Central banks will have the extremely demanding task of striking a balance between maintaining the credibility of currencies with a suitably high interest rate on the one hand, while ensuring appropriate growth and a suitable level of employment on the other.

Currently, after the Covid-19 shock, we are recording high GDP growth and increased profits in companies that are creating “reserves” for difficult times. Systematically, the economy is under-indebted, as is the population, but the excessive increase in public debt caused by inefficient spending of public money is concerning. Due to full employment and excessive inflation, central bankers are being forced to raise the price of money and thereby lessen demand. It seems that the bankers will tighten their belts all the way until “something breaks”, and then the tables will turn, and Central Bank delay will only increase volatility. It is very likely that there will be a decline in economic activity in the future and that inflation will continue beyond the target of 2%, therefore we must prepare very prudently for a period of stagflation.

The price of goods is a result of the balance between supply and demand. Governments can intervene in the market and regulate prices, as is currently happening with energy products. However, in the long term, this only distorts reality and does not allow for increased investment in the much-needed energy infrastructure, which would potentially allow prices to fall in the EU. The proverbial ECB can print money, but it cannot print oil, gas and electricity. Therefore, we can predict that with the reduced purchasing power of the population and fall in the value of assets, demand will decrease due to pessimistic sentiment and thus prices will slow down initially; however, in a later phase, with the delayed reaction of central banks demand will rise again and with limited resources, the inflationary cycle will restart. In this decade, we can therefore expect several waves of inflation with higher interest rates.

In the Covid-19 situation, based on the assumption of zero interest rates, all countries readily handed out helicopter money which helped to weaken monetary policy, and this fiscal measure prevented bankruptcies and a drop in GDP. This time around, however, the situation is more insidious, with increased interest rates and already heavily indebted government coffers. Will countries dare to borrow heavily again in order to help companies? Less likely than before, since the manoeuvre is less effective each time around. They will, hopefully, help in a more targeted manner. However, governments will not help zombie companies that do not have perfect business models and who exist only because of access to cheap money, for example, various developing technology companies with ideas that do not bring prevailing profit.

The health of Slovenia’s economy is basically good and there will be fewer problems at the aggregate level, but we can expect problems in those production companies where they are not able to pass on the increased prices to customers i.e companies with no pricing power. In production companies where the EBITDA margin is extremely low or for established traders who are over-indebted, for whom the increased Euribor will soon begin to squeeze and erode cash flow and liquidity. All companies will at some point record a drop in orders, including service companies, which are generally more resistant to higher energy prices and increased Euribor, at least in the short term.

Global PMI indices are historically low. The first major layoffs in the USA have begun, orders are falling in Germany, and we all know that we are “importing” a global recession to Slovenia, albeit with a certain time delay. It is difficult to raise business resilience rapidly in companies, however the EU has several grant schemes that will help companies make investment decisions, which may prove to be one of the main “solutions” for companies in the coming years.

Banks raise interest rates on deposits to a very limited extent, while lending rates are already significantly higher due to the effect of higher Euribor and higher mark-ups. Banks have limited the offer of fixed interest rates for long-term loans, and it is no longer so easy to refinance. With short-term revolving lines, it is still possible to get a fixed interest rate, but it is now at a higher level than 6 months ago. No one has a crystal ball, and we don’t know how far the ECB will raise interest rates, so the dilemma of whether to speculate or to decide on a peg arises. It seems sensible to “fix” at least part of the debt as soon as possible so that the company knows with at least some certainty what the financing costs are.

Irrespective of the future movement of Euribor, companies will still have the need to improve their cash flow. They will have to go through all bank and non-bank financing offers such as SPS direct financing of companies via various schemes or SID bank special long-term loans, however, some companies will also need an EGP guarantee if they don’t have quality mortgages to offer as insurance. Favourable loans to companies will be available from certain banks that are backed by a SID portfolio guarantee or those who can factor in their receivables, and where extremely fast access to fresh liquidity is possible, albeit from more expensive sources such as equipment leasing, private loan funds, inter-company financing, periodic tenders of the SRRS fund or newly emerging funds for the ownership support of young growing companies.

In addition, companies can check the offers of private funds with partial equity and/or mezzanine financing, both of which provide a more stable long-term source. Furthermore, quite a few (family) businesses may already be flirting with exit strategies due to the age of the founder, and future uncertainty may also be a key trigger for equity sales. Unfortunately, the optimum time and the highest valuation ratios are probably behind us. The stock market indices have also fallen from their peaks, but it still may be more prudent to sell the company within the next year for a “normal” market purchase price, than to think about rehabilitation in 3 years, if the future is still as uncertain as it is today.

Slovenian company DARS d.d. has walked through a very dynamic and diverse path. “Connecting Slovenia” is the slogan the company chose many years ago and it’s still as relevant today! DARS not only expresses the integration of Slovenia in terms of the construction of the highway system but also connects the past with the present and navigates the direction of the future. Digitalisation plays a critical role in improving the efficiency, safety, and sustainability of building, managing, and maintaining motorways and expressways. And DARS d.d. can be considered as one of the crucial co-creators of Slovenian’s economy, especially in terms of the development of transportation infrastructure. By providing efficient and effective digital solutions, the company helps improve the productivity, safety, and sustainability of the transportation network, which can in turn drive economic growth and development. Motorways and expressways are key components of the transportation network, and efficient management and maintenance of these assets as well as stimulating innovation are essential for ensuring the smooth functioning of the economy.

C-Roads Slovenia

C-Roads introduces cooperative intelligent transport systems for the transfer of information in the present time. These systems are based on infrastructure-vehicle and vehicle-infrastructure communications. C-Roads are primarily intended to increase traffic safety, improve mobility and reduce harmful emissions and have a direct impact on society. Due to the quick detection of irregularities on the road such as traffic accidents, animals on the road, irregular driving, etc., drivers can get the necessary information faster than before. With the help of the PROMET+ application, which directly transmits what is happening on the road, drivers are immediately aware of what is happening and thus ensure the safe behavior of other road users.

Currently, the C-Roads system is set up on the Postojna-Divača highway and can be used by anyone equipped with the necessary technology. The plan is to equip the entire highway infrastructure in Slovenia with the technology.

Building information modeling (BIM)

Digitalisation supports projects in all phases of the life cycle of the instrastructure – from the beginning of the design to the subsequent maintenance and management of the infrastructure. One of the first such projects is the second tube of the Karavanke tunnel, which is being built using BIM (Building information modeling) digital technology. The simulator detects errors in documentation and construction more quickly and easily, thereby reducing the time of the construction process as well as the costs of the project itself.

The simulator is also used in the inspection of highways with the help of drones – especially after natural disasters and the search for possible damage to the roads, as this ensures safe continued use and transportability.

E-vignette and DarsGo

DarsGo is equipped with a device that drivers install on the inside windshield, which is detected by road equipment (cameras) while driving, automatically calculates tolls based on the distance traveled, and thus enables faster traffic flow and a reduction in vehicle consumption.

The e-vignette is intended for all smaller vehicles, with a maximum weight of up to 3.5 tons. In addition to Slovenia, the e-vignette can also be purchased in 9 other countries: Austria, Croatia, Italy, Luxembourg, Hungary, Germany, Poland, Slovakia, and the Chech Republic.

Traffic monitoring

The entire highway infrastrucure is built on digital traffic monitoring – sharing information regarding weather conditions, signaling, traffic accidents, etc. and is fully covered by video surveillance and sensors. All changes introduced by DARS are aimed at people and changing the way we think toward a brighter, safer, and greener future.

I had just arrived in Sarajevo for a short break and was shocked and saddened by the texts I received, family missing, homes and businesses obliterated and everyone frozen in icy fear, as the shakes continued day after day and the sparsely clad inhabitants too fearful to enter their homes. I felt helpless and deeply saddened as family deaths were reported daily.

Money, clothes, food and blankets were needed urgently. Urgent fundraising was required, but I needed a voice. Having worked for The Adriatic in the past, I approached their kindly editor, Tine Kracun, and asked for his support in organizing a fundraising Turkish breakfast for the Earthquake Fund. He readily agreed, so all I needed was a venue. And the food. And the people.

My next stop on that frantic morning was to the Grand Plaza, start at the top, I thought and work down. To my delight and amazement, they also readily agreed to donate their luxurious VIP Lounge and the coffee and tea, as well as their amazingly helpful Events Manager, Anja Zagar. Next stop, food – as an unaccomplished cook, I can manage grilled peppers and humous, but not much more – but my Turkish friend, Event Manager, Ebru Mumcouglu came to the rescue, despite already being heavily involved with arranging clothes and blanket collections. She coordinated three or four Turkish friends to make the breakfast an authentic Turkish delight. Ebru and her friends donated the most delicious Turkish breakfast salads of feta cheese, tomatoes, cucumber and olives, cheese and meat borek, baklava, bread and real Turkish honey. The Adriatic and I provided fresh farm eggs, tomatoes, feta cheese, humous, peppers, olives and a variety of (Slovenian) jams. We estimated 25-30 attendees.

We advertised on Facebook and Linkedin and requested an RSVP. No replies were forthcoming, and friends were giving ambivalent “maybe’s” and by the night before we had received precisely zero replies! I had a sleepless night. Slovenia is not accustomed to this kind of fundraising, I was told.

The next morning at 7.30 am, the food started to arrive and by 8.30 am there was a breakfast buffet fit for a sultan, and we waited with bated breath…

My friend, Andreja arrived first, a Professor from the university, and gradually, people trickled in filling the grand table with a host of tongues – Russian, Hungarian, English, Turkish and of course, Slovenian, and by 9.00 am the breakfast was in full flow. I was too wound up to eat, and although I hope I managed to thank everyone that came personally, I didn’t make my intended speech.

However, I am fully aware that the attendees knew why they were there and everyone contributed to the Disasters Emergency Committee, Turkey-Syria Earthquake Appeal. We made 500 Euros.

As the crowd dispersed, we were still left with a feast of food, and with the agreement of ISR and Ebru, the hotel helped us package up the remaining food and Anja, the hotel manager and my dentist friend, Ljubica, helped med carry three large bags of goodies around the corner to the Kralje Street Hostel for the homeless where the kings of the street, had a meal fit for a king!

Fundraising is not common in Slovenia, and I am hoping that we, in Slovenia, can hold quizzes, tennis tournaments and other fun events to raise money and awareness for needy causes in the future.

The rising demand has made it difficult for farmers and has put a strain on the environment, however local food production reduces the amount of energy required to transport food, and it also reduces the need for artificial preservatives and additives. In addition, buying local food allows for better traceability and accountability, consequently, local food production is beneficial for all involved, and it should comprise a major part of any supermarket’s offerings.

Observing the positive trends of choosing locally produced food

Buying local food is a great way to reduce your environmental footprint, as it eliminates the need for long-distance transportation of food. Local food production is another way to reduce your environmental footprint while still having access to fresh, local food. Furthermore, by supporting local farms, you are directly investing in the future of local agriculture and food production in your area, and this helps to ensure that there are local, sustainable sources of food for many generations to come.

Supermarkets are increasingly offering more and more local food from farmers to meet the demand for fresher, more sustainable and more nutritious food options. By supporting these local farmers, supermarkets are helping to strengthen the local economy while also providing customers with access to delicious and healthy food. Not only are customers able to enjoy the very freshest fruit and vegetables, but they can also find small-batch jams, sauces, honey, and other products made by local artisans. As more people become aware of the benefits of buying local produce, supermarkets can widen their range of local food and help to support local farmers and the local economy.

Mercator leads the way in food security

Mercator is at the forefront of providing Slovenia and its population with high quality and widely available locally produced food. Food security has been a top priority in Slovenia and worldwide since the start of pandemic. It was at this time that Mercator’s professionalism, dedication and wide-ranging network of stores managed to provide households in Slovenia and the Adriatic region with a stable supply of food and other household necessities. In autumn, as macroeconomic changes began to take place, Mercator responded with a national campaign slogan – Your every purchase makes a difference (Slovenian: Vsak vaš nakup šteje), which encouraged Slovenian consumers to purchase high quality locally produced food to boost food security and to support local producers. For instance, Mercator buys 50,000 tons of milk and dairy products yearly from local suppliers.

Local food production and self-supply are crucial for sustainable food production and for strengthening local economies. By purchasing shares in local producers, we are not only supporting them but also supporting local communities by ensuring that they have access to fresh, nutritious food and that local businesses remain operable.

The days of going home early for a favourite series or a much-anticipated film are well and truly behind us. Today’s pace of life dictates many different user needs and high and demanding expectations that are constantly growing. We can have access to digital services virtually anytime and anywhere, and the same applies to our TV-watching habits.

The figures speak for themselves – more than 5 billion people or twothirds of the world’s population use mobile phones, and the number of internet users is of similar dimensions. In quantitative terms, this translates into almost 7 hours a day or 40% of our waking time spent on the internet or mobiles. Television has almost 5.5 billion viewers worldwide, with users spending almost 2 hours a day on linear TV and almost an hour and a half on TV streaming content.

In the Balkans, the United Group has taken the lead in meeting the needs and expectations of the region’s inhabitants. Here, the TV and digital solution provider’s comparative advantage is advanced digitalisation. After being the first in the region to launch digital TV non-linear features such as rewind, fast-forward and the basics of video-on-demand, they have now gone a step further by improving the user experience, explains Ditka Maučec, Product Director at United Group.

To do this, we needed a significant amount of know-how, experience and flexibility, and of course a platform that could be customised. We developed EON, a smart and advanced platform that has delivered a unique user experience from the very beginning, and offers not only live TV viewing, but also the indispensable non-linear way of watching TV content anytime and anywhere – on users’ mobile phones, tablets, and computers, without plugging in a to set-top box. Hence, EON offers the ultimate experience, allowing users to enjoy their content in the best way possible.’

40% of views are via time-shift

One of the key characteristics of today’s users is that they want to manage their own time. They no longer just watch TV on their TV sets, but increasingly on their mobile phones, tablets and computers. ‘Our average user has 2.5 devices activated to watch TV and 40% of viewing time happens via time-shift and video-on demand. On mobile devices, this percentage rises to more than 60%’, says United Group’s Product Director.

The TV schemes include a wide range of local TV programmes, many of which are synchronised or subtitled. ‘Users can search for content and operate their TVs in their native language without the need for a smart TV, as these solutions are already part of the package we offer today. The EON Smart Box turns any TV into a smart TV and gives you access to the world of the internet,’ says Maučec. ‘The United Group has experienced remarkable growth in recent years. They have doubled the number of subscribers in eight Western Balkans countries and positioned themselves as the number one regional provider. They offer premium TV and digital content in the local languages, apart from English, with local channels and localised applications included in every single market where they are present.’ Explains Maučec.

Trend setters

In the digital world, everyone is in competition with everyone else, and it’s important to understand that, no matter what industry you’re in. In the digital world, your competition is Amazon, Uber and other digital platform providers. How is the United Group coping with this?

The company’s vision for its premium EON solution is to become an indispensable partner for all generations of South East European consumers, providing them with a superior TV experience. ‘The interface is virtually all-inone. It’s modern and intuitive, and with the help of the advanced algorithms we use, we can give our users recommendations on exactly what they like best. We are highly competitive with all the global players in this area and we are continually developing better and better products.’ says Maučec.

The company’s main pillar is its development centre, United Cloud. It is the leading innovation centre in the region. The centre develops digital services in the telecommunications, media and TV industries, as well as integrated solutions for products of the future. The plan for the centre is to eventually offer innovations that others will follow and drive trends in user experience across the region.

Leader in the competitive mobile market

Mobile telephony is an integral part of the digitalisation ecosystem. Telemach is a mobile operator under the umbrella of the United Group, and it has been the fastest-growing mobile operator in Slovenia for many years. However, Maučec remarks that the competition for users is challenging, as the Slovenian market is highly developed, similarly in Croatia and Greece where the company is also present. In Croatia, the basis of Telemach’s business is mobile telephony, and they offer upgraded packages, but they also have a strong focus on building the most technologically advanced fixed network offering high gigabyte speeds in order to offer the fastest internet speed to the largest possible population. At the same time, the integration of newly acquired companies NOVA and WIND is taking place in Greece, and they have just started offering fixed and mobile services there.

Mobile phone use has long ceased to be just about making calls. Today, communication is done through the use of data, via applications such as Viber, WhatsUp, Telegram and others. The same is the case with social media platforms that have become the chief information and amusement channels around the world. Users demand availability, everywhere and at any time, and they want seamless access to their favourite music, TV shows, and sports events. ‘We at United Group are aware of two things, firstly, the importance of reliable infrastructure, therefore we are constantly developing and investing in cutting-edge technologies, and secondly, that data transmission is of paramount importance for the needs of today’s users. We have been steadily increasing it in our packages at no extra cost. While the NAJVEČ package has been offering unlimited communication for some time, this year it has been joined by the ŠE VEČ package with unlimited data. Since the launch in 2015, all of our mobile packages have followed their original mission, which is based on unlimited or high data transfer, transparency, the inclusion of additional services and a seamless mobile network.’ says Maučec.

The United Group in Bulgaria was also the first to launch a brand new portfolio of mobile packages with unlimited data, differing only in internet speed. ‘Due to strong interest among users in Bulgaria we launched a similar package in Slovenia, and we were proven right as the users’ response was extraordinary,’ Maučeč explains.

Increasing the share of renewable energy sources is an important step in reducing carbon emissions and dependence on fossil fuels, with  increased energy security alongside decreased dependence on third countries lately being stressed as an advantage. More than ever before, the European Union has been looking at new ways to ensure energy security; this can be significantly facilitated by energy companies which, by investing in new production facilities such as wind and solar power plants, are helping to increase energy independence. One of such companies, Petrol, is planning to plug its three largest solar power plants into the power grid by summer 2023.

The Petrol Group already operates two wind parks with a total of 18 wind power plants in Croatia, five small hydroelectric power plants in Bosnia and one in Serbia, and 30 smaller solar power plants installed on buildings in Slovenia. Petrol is proud to have also started building large stand-alone solar power plants, the first three in the area of Knin in Croatia: Suknovci, Pliskovo, and Vrbnik, with a total installed capacity of 22 MW, together representing one of the largest solar power plants in the region.

The three  stand-alone solar power plants are situated in rocky settings above the Adriatic Coast marked by infertile soil and an abundance of sunny days, making the area perfect for solar. The three solar parks, Suknovci, Pliskovo, and Vrbnik, will comprise of 40,100 solar panels that will generate enough green electricity for as many as 8,500 households. To minimise the adverse effects on the environment, the substructure of the solar power plants is attached to ground-mounted foundations with no concrete reinforcement; therefore, the solar power plants can be easily removed after the end of their lifespan and the original appearance of the area can be quickly restored.

In the context of the energy transition and with the goal to reduce its own carbon footprint as well as because of the advantages delivered by self-sufficiency and local energy generation, Petrol has decided to instal solar panels on its own buildings, such as rooftops of its points of sale, the latter as part of the Petrol Green project which is partly financed through a grant received from the Cohesion Fund. In the first phase of the project, solar panels will be installed on 46 points of sale, followed by 24 in the second phase. Petrol has set a goal to equip its entire point-of-sale network with solar panels; this way, its points of sale will become as self-sufficient as possible and generate own energy which, alongside storage batteries, will also be used for e-charging infrastructure.

In addition to investing in the construction of own renewable energy production, the Petrol Group is installing solar power plants as part of its comprehensive energy solutions for various stakeholders – public buildings, industry, other business activities, and households. Petrol connects several solutions into one complete story for its partners and helps them design a new concept of an energy system which is modern, efficient, environmentally friendly and energy self-sufficiency focused. Last year, Petrol made an important step towards a green future in cooperation with Cinkarna Celje. The result of their cooperation is the installation of Petrol’s largest solar power plant in Slovenia, and one of the many planned by Cinkarna Celje, with a capacity of 1 MW. The solar power plant comprises 2,222 solar modules with a total rated capacity of 1 MW and the estimated annual electricity generation of 1,160 MWh, enough for about 330 average households.